In our recent infographic, we discuss Bancor In A Nutshell. Bancor is a decentralized liquidity network. It’s a platform that enables the creation of smart tokens, which can be made into small scale community currencies, and exchanged for any crypto on the market. Users can hold any traded token and convert it into others. As of April 26th, 2018, Bancor had 19,554 holder addresses, with 207 daily active users, and 2,397 transactions per day. Benefits of using the platform include: low costs for conversions (thanks to a non-profit automated market maker), lack of a trading barrier as you can trade any time regardless of who is or isn’t trading, no counterparty risks, no registration required as conversions are done from your web3 wallet, predictable price slippage so you get transparent prices, and backwards compatibility (any ERC20 token can be integrated without code changes or fees).
In the infographic, you’ll also learn about Bancor’s development roadmap from the 1st quarter of 2018 to the 2nd quarter of 2019. There’s also information about Bancor’s one year birthday, such as that the platform gained 108 live tokens (with over 5,886 possible token pairs), that the platform had processed over $1 billion in token conversions, and more.
We also discuss in depth about Smart Tokens, and what exactly they are. For example, did you know that Bancor’s Smart Tokens operate in compliance with ERC20 token standards, but their additional logic means that users can buy and sell them at prices which reflect supply & demand? You’ll learn that and much more about Smart Tokens, such as the fact that there’s no spread when trading.
The infographic also breaks down the system’s pricing algorithm and price formula for you to see. You’ll learn things such as what the Connector Balance is, and more. You’ll also see Bancor’s allotment of contributed Ether (gained during their BNT – their native token – Token Generation Event) – what percentage of the funds will go to what purposes. This also comes with some simple pie charts as well.
On top of this, you’ll learn what key roles you could be able to play within the Bancor Ecosystem, such as being a trader, a smart token issuer, an asset tokenizer, or an arbitrageur. Finally, the infographic shares Bancor’s plan of trying to help reduce poverty in two slum areas in Kenya known as Kawangware and Kibera, by creating community currencies.
We hope you enjoy the infographic below.
The Cyberius team.
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